Juventus are set to end the 2020/21 financial year with losses of €190.7m, more than doubling their total from the previous year.
The Bianconeri have been hit particularly hard by the coronavirus outbreak, which forced all games in Italy to be played behind closed doors for the entirety of the 2020/21 campaign.
Performances on the field also left owner Andrea Agnelli feeling the pinch, as Juve crashed out of the Champions League at the round of 16 stage.
And Calcio e Finanza reports that the on and off the field problems in Turin have led to the club suffering major financial losses, totalling €190.7m (£163.8m) for the 2020/21 financial year.
Figures released by Juve’s parent company Exor show that they suffered losses of €77m from January to June 2021, which the club must add on to the previously announced €113.7m loss from July to December 2020.
The final figure of €190.7m is more than double that of the 2019/20 season, when they recorded a loss of €89.7m. These exaggerated losses stem from the coronavirus outbreak, which particularly affected Juve of all the Italian clubs.
The Bianconeri are one of the few clubs in the country to own their stadium outright, meaning they have suffered the consequences of football being played behind closed doors more than anyone else. Their loss in matchday revenue is a major factor, but it’s not the only cause of the club’s slide.
Juve failed to progress beyond the last 16 in the Champions League, which, coupled with the crippling outlay spent on Cristiano Ronaldo, left the Italian giants leaking money.
There is hope that next year’s figures will improve, especially considering they have managed to offload the €31m-a-year superstar to Manchester United, while also accruing a fee for his services.
Ronaldo left Turin after three years, having failed to achieve what he set out to do in winning the Champions League. Juve will be hoping to post profits next year, for the first time in five seasons.